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GOODWILL AND OTHER INTANGIBLE ASSETS-NET

6 Months Ended

May 02, 2021

GOODWILL AND OTHER INTANGIBLE ASSETS-NET

GOODWILL AND OTHER INTANGIBLE ASSETS-NET

(14) Goodwill and Other Intangible Assets–Net

The changes in amounts of goodwill by operating segments were as follows in millions of dollars:


	Production &		Small Ag		Construction
	Precision Ag		& Turf		& Forestry		Total
Goodwill at November 3, 2019	$	310	$	264	$	2,343	$	2,917
Translation adjustments and other		(5)		(4)		9
Goodwill at May 3, 2020	$	305	$	260	$	2,352	$	2,917

Goodwill at November 1, 2020	$	333	$	268	$	2,480	$	3,081
Acquisition		12						12
Translation adjustments and other		10		(2)		89		97
Goodwill at May 2, 2021	$	355	$	266	$	2,569	$	3,190

There were no accumulated goodwill impairment losses in the reported periods.

The components of other intangible assets were as follows in millions of dollars:


	May 2		November 1		May 3
	2021		2020		2020
Amortized intangible assets:
Customer lists and relationships	$	549	$	535	$	509
Technology, patents, trademarks, and other		1,097		1,056		1,006
Total at cost		1,646		1,591		1,515
Less accumulated amortization:
Customer lists and relationships		136		113		93
Technology, patents, trademarks, and other		323		274		234
Total accumulated amortization		459		387		327
Amortized intangible assets, net		1,187		1,204		1,188
Unamortized intangible assets:
In-process research and development		123		123		123
Other intangible assets – net	$	1,310	$	1,327	$	1,311

The amortization of other intangible assets in the second quarter and the first six months of 2021 was $27 million and $62 million, and for 2020 was $26 million and $51 million, respectively. The estimated amortization expense for the next five years is as follows in millions of dollars: remainder of 2021 – $55, 2022 – $109, 2023 – $107, 2024 – $103, 2025 – $100, and 2026 –$98.